15 pts The college hosts an adult educational program for local businesses. Student tuition is $150 per semester credit hour. The companies that collaborate with the college supplement school revenue by $100 per semester credit hour. Labor costs are $4,000 per class (independent of student number), material costs are $20 per student per class, and overhead costs are $22,500 per class (independent of student number). Answer the following questions, Q1~Q3. Q1: The instructor works an average of 14 hours per week for 15 weeks for a 3-credit class of 40 students. So, if there are 40 students in the class, what is the labor productivity, where output is gross revenue and input is labor hour? You need to show your calculation (e.g., Excel formulas) besides the answer. Answer Q2: There are 115 students that registered for an IT training course in the program while the maximum class size was set to 45. With a proper number of classes to offer for this course, what is the best multifactor productivity the college can have, where output is gross revenue and input includes all costs? You should show your calculation (e.g., Excel formulas) besides the answer. Answer Q3: Continued from Q2, the administrator had the goal of a minimum multifactor productivity of 1.10 (equivalently, a yield of 10%). If the above multifactor productivity does not meet his goal, his option is to raise the tuition because all costs cannot be changed. In this case, what is the minimum fee (a whole number) per semester credit hour the tuition should be raised to? If the above multifactor productivity already meets his goal, answer "N/A". Answer